Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Coinbase needs new CEO after SEC fail: Kevin O'Leary By: FOX Business June 08, 2023 at 16:40 PM EDT Investor and Shark Tank star Kevin O’Leary says he’d get rid of Coinbase CEO Brian Armstrong and find someone willing to work with the Securities and Exchange Commission. Investor and Shark Tank star Kevin O’Leary says he would fire Coinbase CEO Brian Armstrong and find someone who is willing to make a deal with the Securities and Exchange Commission (SEC).SEC SUES COINBASE, SAYS CRYPTO EXCHANGE NEVER REGISTERED AS A BROKEROn Tuesday, the SEC announced that it was suing the cryptocurrency exchange for operating as an unregistered broker. Meanwhile, Treasury Secretary Janet Yellen said Wednesday that she supports regulatory oversight of cryptocurrency to protect consumers and investors. O’Leary said he would take Armstrong "behind the barn" and get a new CEO at Coinbase. "Find a new CEO that will go to SEC Chairperson Gary Gensler and say, "You win. Let’s regulate this and call it a security," he added. "The move would provide Coinbase with a trillion dollars’ worth of assets for an allocation of just 3%. It is sovereign wealth."YELLEN SAYS MORE CRYPTO REGULATION 'WOULD BE APPROPRIATE'In the SEC complaint filed in Manhattan federal court, the regulator said that Coinbase has pocketed billions of dollars by collecting transaction fees from investors since at least 2019, without the disclosures and protections of registration, exposing its customers to risk."Coinbase has lost 70% of its market cap since the Initial Public Offering (IPO)," O’Leary said.BINANCE, COINBASE CEOS' FORTUNES TAKE HIT AFTER SEC CRYPTO LAWSUITS"The cryptocurrency industry has been stymied for three years and will never get capital appreciation until an institution can invest," he went on. "After speaking with Sovereign Wealth and other institutions in the last 48 hours, they say this asset class is radioactive waste. We are not going to touch this."Coinbase has not responded to inquiries from FOX Business. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Coinbase needs new CEO after SEC fail: Kevin O'Leary By: FOX Business June 08, 2023 at 16:40 PM EDT Investor and Shark Tank star Kevin O’Leary says he’d get rid of Coinbase CEO Brian Armstrong and find someone willing to work with the Securities and Exchange Commission. Investor and Shark Tank star Kevin O’Leary says he would fire Coinbase CEO Brian Armstrong and find someone who is willing to make a deal with the Securities and Exchange Commission (SEC).SEC SUES COINBASE, SAYS CRYPTO EXCHANGE NEVER REGISTERED AS A BROKEROn Tuesday, the SEC announced that it was suing the cryptocurrency exchange for operating as an unregistered broker. Meanwhile, Treasury Secretary Janet Yellen said Wednesday that she supports regulatory oversight of cryptocurrency to protect consumers and investors. O’Leary said he would take Armstrong "behind the barn" and get a new CEO at Coinbase. "Find a new CEO that will go to SEC Chairperson Gary Gensler and say, "You win. Let’s regulate this and call it a security," he added. "The move would provide Coinbase with a trillion dollars’ worth of assets for an allocation of just 3%. It is sovereign wealth."YELLEN SAYS MORE CRYPTO REGULATION 'WOULD BE APPROPRIATE'In the SEC complaint filed in Manhattan federal court, the regulator said that Coinbase has pocketed billions of dollars by collecting transaction fees from investors since at least 2019, without the disclosures and protections of registration, exposing its customers to risk."Coinbase has lost 70% of its market cap since the Initial Public Offering (IPO)," O’Leary said.BINANCE, COINBASE CEOS' FORTUNES TAKE HIT AFTER SEC CRYPTO LAWSUITS"The cryptocurrency industry has been stymied for three years and will never get capital appreciation until an institution can invest," he went on. "After speaking with Sovereign Wealth and other institutions in the last 48 hours, they say this asset class is radioactive waste. We are not going to touch this."Coinbase has not responded to inquiries from FOX Business.